There is an inverse relationship between the strength of the dollar and cryptocurrency prices; when the dollar rises, Bitcoin and digital assets tend to decline. In September 2023, the increase in the DXY dollar index to 105.6 caused Bitcoin to decrease by 7% over a week, due to the rising demand for dollar-denominated assets
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There is an inverse relationship between the strength of the dollar and cryptocurrency prices; when the dollar rises, Bitcoin and digital assets tend to decline. In September 2023, the increase in the DXY dollar index to 105.6 caused Bitcoin to decrease by 7% over a week, due to the rising demand for dollar-denominated assets